Tech in Business: 6 Advancements That Will Change How You Make Money

Technology moves at the speed of light — it was only 20 years ago when Google first launched. Now, we bark commands into our phones like a Star Trek episode.

The digital world of doing business and e-commerce has transformed the playing field for businesses, big and small.

Those days of being reliant on IT departments and dedicated CIOs are moving past us. Everything is now streamlined, automated, and outsourced completely. And it’s all thanks to the emerging tech in business.

Our focus is now turning towards much bigger game-changing technology. What can we expect from the near future from these advancing technologies?

We’ve gathered seven of the biggest trends and listened to experts behind them.

Blockchain

This technology is synonymous with cryptocurrencies, Bitcoins, in particular. Blockchain is a process of decentralized security, which is important as we develop more complex and powerful systems.

Corporate and customer privacy is going to continue being leading issues as we move into a more digital world.

Using blockchain technology is like storing data in a safe that can only get unlocked with thousands of keys spread all over the world. Hackers cannot hack blockchains, it would be equivalent of stealing a wallet to rob a bank.

This technology is being applied to vital infrastructure that has gone without property security for far too long. The healthcare industry, accounting, manufacturing, banking, international trade, government communications, and more.

Small businesses can benefit in the same way by keeping trade secrets and communications protected.

Chatbots

The idea of having access to your own customer service call center may have seemed farfetched years ago, but not anymore. With improvements in the virtual assistant space, chat robots are actually viable now. Artificial intelligence for business proves to be valuable in chatbot tech.

Now, you could be talking to a chatbot and not even know it, thanks to natural language and conversational AI. Pretty soon, chatbots will prove to be much more effective than human customer service interactions. Chatbots can be more accurate, faster, and informative than your average CSR agent.

Developers are fine-tuning conversational pathways, detecting tone, and de-escalation tactics. That’s the same type of training a human gets on the job at a call center. This can make things like computer repair a faster and easier process for IT personnel.

IoT

The Internet of Things (IoT) is all about connecting our world through technology. Jokes are often made about the toaster than talks to you or the fridge that asks you about ordering groceries. Those are the least interesting and most crude examples of IoT potential.

The ultimate goal of IoT is to minimize the amount of work needed to get machines to improve our lives. If appliances can talk, spit out useful information, and make suggestions based on recorded data, imagine this tech in business.

Manufacturing becomes possible in a small business setting, as devices and machines make all the decisions. Less waste, lower downtime, and more efficient use of power are all benefits of IoT tech.

With more devices talking on networks comes new challenges. Right now, the biggest obstacles holding back a world of IoT machines is security. More checks and balances are needed to prevent exploitation, spying, and hacking access to networks.

Augmented and Virtual Reality

Virtual reality technology has finally reached the point where it is both practical and viable. Augmented reality is also following closely, despite the fact Google Glass was a bust.

Our phones are capable of both of these experiences, and businesses are investing in this technology.

Interactivity is going to continue to be a huge asset for businesses courting new customers. An app with a built-in virtual tour or tech that changes how people interact with their real life is going to be future-proof.

From plant identifiers to open houses, museums to flight lessons, head-mounted displays are going to be the new marketing must-have.

Wireless Charging

Some companies have been slow adopters of this technology, but recent advancements have made it tantalizing. Any brick-and-mortar business trying to attract more store traffic will need to invest in this. Wireless chargers introduce truly wireless freedom for all devices.

People are saying goodbye to adapters and finding outlets. Now, they’re able to sit down, use their phone and have it charge at the same time.

No need to hug a wall or sit with a long cord in your way. Oh, and it’s going to make lost chargers a thing of the past.

5G Tech in Business

It’s hard to believe that the first consumer cellphone came out in the ’80s. It’s hard to even imagine what 1G reception would even sound like. We imagine it would sound like someone talking underwater.

The fifth generation of cellphone communication will bring data speeds to the Gigabit range. Latency will be almost nonexistent — we’re talking single-digit milliseconds. This new cellular network will make wireless devices much more reliable and not dependent on WiFi proximity.

The increased data volume of roughly 1,000 times current levels means it will allow for more people and devices. This could potentially lower costs significantly for businesses trying to scale fast.

More Technology Trends in Business

This list is not comprehensive by any means — we know that a giant category of robotics is missing.

There are plenty of reasons to get excited about automation tech, but it covers a broad spectrum of applications. Self-driving cars will definitely change the way we think about the work commute.

Alternative energy is another area of transformative tech in business. We recommend keeping a close eye on these technologies to watch for any major breakthroughs. Don’t be one of those businesses that miss out on the major tech wave.

Read tech blogs on USA Today to stay in the know. Follow investors and see if there are any major indicators that show a shift in confidence among the tech industry. Remember that leaders lead and followers get left behind.